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ECONOMY ON A ROLL

Welcome to Pacific Palm Marina Resort Fiji

The Fiji economy has been experiencing increasing levels of economic growth since 2000 with much of this growth a result of increased domestic demand. The current levels of economic growth are encouraging with a 5% increase in Gross Domestic Product (GDP) estimated for 2003 and forecasts for 2004 at 3.8%. This growth has been led by favourable performances in the building and construction, wholesale and retail trade, and restaurants and hotel sectors. This reflects continued strength in consumer spending, supported by improving labour market conditions. Strong growth in visitor numbers continues to support the good performance of the tourist sector which looks set to register a record performance in 2004.

Fiji is striving to establish an economy that can sustain steady economic growth, a goal that is seen as best achieved through encouraging investment and export growth. Tourism is the main driver behind these growth expectations with strong contributions to employment, foreign currency generation and foreign investment.

The Fiji Islands, are well positioned to reap the benefits of expanding global tourism. The Islands proximity to the key feeder markets of Australia and New Zealand, and their perceived value for money pricing in a "comfortable and safe" destination, ensure Fiji’s hoteliers of a steady core of business. The long haul markets of North America and Europe still perceive Fiji an exotic South Pacific paradise, and improvement in flight services will make the destination even more accessible.

Air routes expanding
In recognition of Fiji’s growth potential, its national carrier, Air Pacific, has announced its intention to expand seat capacity and improve scheduling. In October 1998, Air Pacific took delivery of a new 737-700 allowing it to increase frequencies to Melbourne from two to four times weekly. Air Pacific’s wide bodied aircraft capacity also expanded with the announced introduction of a second B 747-200 in December 1998. This coincides with its fourth weekly direct Los Angeles to Nadi service. In 1999/2000 followed two new generation 737-80’s.

Air New Zealand’s new strategic alliances with United Airlines, Singapore Airlines and Lufthansa of Germany will also significantly boost Fiji’s profile in the key growth markets of North America and Europe. Air New Zealand continues to expand its services through Fiji and has recently received approval to commence direct services between Los Angeles and Nadi. The first direct services commenced in April 1998 and a second service in October 1998. These services provide direct connections from both London and Frankfurt. Approval has also been received to increase services between Nagoya to Nadi from two to three services per week with one of those services providing a direct service between Nadi and Christchurch.


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